Course content
The objective of the course is to give the student a deeper understanding of the competitive possibilities of circular economy businesses. Further to illuminate, the innovative and entrepreneurial business opportunities, by development and marketing of circular product, service and process designs as a competitive strategy compared to the linear take-make-use-waste approach. More precise do we in Circular economy – business model for the 21st Century focus on how to apply circular economy principles in businesses.
The rise of the global consuming class creates pressure on the finite resources challenging a global sustainable production and consumption regime. On average do the current production and consumption patterns cause Earth Overshoot Day earlier and earlier each year. Current production and consumption patterns lead to increasing depletion of natural capital, massive biodiversity loss and climate change through use of fossil fuel energy and unhealthy exploitation of raw material resources.
Researchers have for the last five decades tried to address the challenges of overshooting the ecological ceiling and shortfalls of the social foundation. Yet the challenges are just recently acknowledged, as market failures of the neo-classical growth economy, which lack inclusion of impact and cost of fossil fuel energy input and use of natural capital input in production and consumption. Utilising circular economy principles relieves the pressure on natural capital reserves and as argued by the EU Commission provides businesses with competitive advantages in the future. The Commission envision a future where companies apply circular economy business models to mitigate loss of resources for future production and consumption possibilities.
In short is the circular economy an economic system that is; regenerative and restorative by design, powered by renewable energy, minimizes leakages to incineration and landfills, keeps the resources at highest possible value at all times, demands cross-sectoral collaboration, have a higher complexity than linear business models and supply chains. Hence, constituting a potential to decouple monetary economic growth, from growth in virgin resource extraction and climate change challenges.
Key topics for circular economy – business models for the 21st century:
- Circular economy theory in general
- Business model design strategies for a circular economy
- Product, service and business process innovation for circular economy
- Transition in socio-technical systems and processes
- Multi stakeholder network collaboration supporting circular economy
- The role of incumbent industries and inertia – lock-in and unlocking markets
- Procurement as a lever for circular economy transition
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See course description in course catalogue